The Wanganui Chronicle WEDNESDAY, MAY 10, 1933. IMPORTS AND EXPORTS

Wanganui Chronicle, Volume 76, Issue 108, 10 May 1933, Page 6

The Wanganui Chronicle WEDNESDAY, MAY 10, 1933. IMPORTS AND EXPORTS

£)URING the twelve months which ended on March 31, the exports from New Zealand (excluding specie) totalled £37,510,164, and the imports £22,648,806. The visible balance, therefore, was £15,861,358. From this visible balance has to be deducted the Dominion’s overseas interest bill and other charges, also the amount of money taken out of the country by tourists abroad, and remittances by emigrants to relatives overseas. These invisible imports, as they arc termed, arc capable of being assessed; the United States Department of Industries and Commerce undertook this task for the year 1929, and the invisible imports proved of such dimensions that the relationship of the United States with the outside world came almost to a condition of balance. The relationship between national income and outgo is likely to be revealed in a practical way by the operations of the exchange. Any surplus of London credits will be transferred by the banks to the Government in order that the Government shall bear the burden of the risk attached to the maintenance of the false exchange. This burden will, in all probability, run into about £5,000,000 by the end of the current financial year, unless there is a considerable alteration in trade conditions.